XSMO vs. USFR
XSMO (Invesco S&P SmallCap Momentum ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, XSMO returned 15.36%/yr vs 2.43%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. XSMO charges 0.36%/yr vs 0.15%/yr for USFR.
Performance
XSMO vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, XSMO achieves a 25.55% return, which is significantly higher than USFR's 1.78% return. Over the past 10 years, XSMO has outperformed USFR with an annualized return of 15.36%, while USFR has yielded a comparatively lower 2.43% annualized return.
XSMO
- 1D
- 0.32%
- 1M
- 4.89%
- YTD
- 25.55%
- 6M
- 21.13%
- 1Y
- 37.28%
- 3Y*
- 25.72%
- 5Y*
- 11.94%
- 10Y*
- 15.36%
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.78%
- 6M
- 1.89%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.70%
- 10Y*
- 2.43%
XSMO vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSMO Invesco S&P SmallCap Momentum ETF | 25.55% | 9.80% | 17.45% | 21.55% | -15.44% | 19.24% | 21.96% | 28.65% | -3.44% | 23.95% |
USFR WisdomTree Floating Rate Treasury Fund | 1.78% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between XSMO and USFR is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.01 |
The correlation between XSMO and USFR shifts across timeframes, from -0.16 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XSMO vs. USFR — Risk / Return Rank
XSMO
USFR
XSMO vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) and WisdomTree Floating Rate Treasury Fund (USFR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XSMO | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.72 | ||
| Sortino ratioReturn per unit of downside risk | -47.11 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 13.24 | -11.92 |
| Calmar ratioReturn relative to maximum drawdown | 4.21 | 200.29 | -196.08 |
| Martin ratioReturn relative to average drawdown | 14.23 | 775.73 | -761.50 |
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Drawdowns
XSMO vs. USFR - Drawdown Comparison
The maximum XSMO drawdown since its inception was -58.06%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for XSMO and USFR.
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Drawdown Indicators
| XSMO | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -1.36% | -56.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -0.02% | -8.87% |
Max Drawdown (3Y)Largest decline over 3 years | -24.76% | -0.06% | -24.70% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | -0.18% | -29.44% |
Max Drawdown (10Y)Largest decline over 10 years | -39.39% | -0.80% | -38.59% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -0.15% | -10.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 0.01% | +2.62% |
Volatility
XSMO vs. USFR - Volatility Comparison
Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 7.19% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that XSMO's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSMO | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 0.08% | +7.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.89% | 0.19% | +14.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.41% | 0.27% | +19.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.64% | 0.40% | +22.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.15% | 0.78% | +23.37% |
XSMO vs. USFR - Expense Ratio Comparison
XSMO has a 0.36% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
XSMO vs. USFR - Dividend Comparison
XSMO's dividend yield for the trailing twelve months is around 0.66%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
XSMO Invesco S&P SmallCap Momentum ETF | 0.66% | 0.75% | 0.63% | 0.96% | 1.19% | 0.30% | 0.82% | 0.69% | 0.66% | 0.27% | 0.30% | 0.35% |
Frequently Asked Questions
XSMO and USFR have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSMO has higher volatility (7.19%) compared to USFR (0.08%). In terms of maximum drawdown, XSMO dropped -58.06% vs USFR's -1.36%.
On 10-year performance, XSMO leads with 15.36% vs 2.43% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSMO has performed better with a 15.36% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.36% for XSMO.
USFR has the higher dividend yield at 3.91%, compared with 0.66% for XSMO.
XSMO is categorized as Momentum, while USFR is Government Bonds. XSMO tracks S&P SmallCap 600 Momentum Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.36% for XSMO and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.65 vs 1.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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